Dow, S&P 500 Rise; Nasdaq Backpedals

Tech stocks fell back from yesterday's highs

Deputy Editor
Jul 21, 2020 at 4:32 PM
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The Dow closed up nearly 160 points, boosted by earnings, with many traders buying up stocks that had been otherwise trodden on by coronavirus. Two big earnings winners today were IBM (IBM) and Coca-Cola (KO). The S&P 500 also ended the day in the black, though the Nasdaq fell back below fair value after hitting an intraday high, weighed down by tech. Meanwhile, the Chicago Fed National Activity Index for June hit a record high of 4.11, revealing that some aspects of the economy may be on the up.  

  • Synaptics stock soared on sales-boosting purchase. 
  • Tech name flat ahead of second-quarter earnings. 
  • Plus, blue-chip boosted by quarterly report; Lockheed Martin increased its full-year guidance; info on the postponed Prime Day. 

The Dow Jones Industrial Average (DJI - 26,840.40) rose 159.5 points, or 0.6% for the day. Chevron (CVX) rose to the top of the Dow, finishing 7.2% higher, while Apple (AAPL) fell to the bottom, losing 1.4%.

Meanwhile, the S&P 500 Index (SPX - 3,257.30) added 5.5 points, or 0.2% for the day, and the Nasdaq Composite (IXIC - 10,680.36) lost 86.7 points, or 0.8% for today's session.

The Cboe Volatility Index (VIX - 24.84) gained 0.4 point, or 1.6%, for the day.

Closing Indexes Summary July 21

NYSE and Nasdaq Stats July 21

5 Items on Our Radar Today

  1.  The European Union (EU) reached a historic deal after a five-day summit for economic relief related to the pandemic. Summit chairman Charles Michel called it a pivotal moment for Europe. (Reuters)
  2. The U.S. Department of Justice accused two Chinese nationals of a hacking scheme. The Chinese embassy in Washington yet to respond to the 11-count indictment. (CNBC)
  3. Blue-chip giant attracting analyst attention. 
  4. Lockheed Martin stock soared on an earnings blowout. 
  5. Amazon stock received bull note despite big announcement. 

Corporate Earnings July 21

Unusual Options Activity July 21

Data courtesy of Trade-Alert

Gold Grabs Nearly Nine-Year High

Oil prices ended with their highest finish since March, after the EU's decided aid package eased energy demand concerns. August-dated crude rose $1.15, or 2.8%, to settle at $41.96 a barrel. 

Gold futures extended yesterday's gains to land a new nearly nine-year high also buzzing on the heels of the aformentioned fiscal plan from the EU. Gold for August rose $26.50, or 1.5%, to settle at $1,843.90 an ounce. 

 

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